Strengthening Rules for Debt Settlement Services

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Strengthening Rules for Debt Settlement Services

Ontario Government Increasing Protection for Consumers Seeking Financial Help

Ontario is taking steps to provide vulnerable consumers with protection against unfair business practices of some companies that offer debt settlement services.

As part of the province's continuing commitment to strengthen consumer protection, the Ontario government intends to introduce legislation that, if passed, would impose new rules for debt settlement services, including:

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“Ontario consumers need to have confidence that they’re getting what they pay for when purchasing debt settlement services. We’re going to introduce legislation that would protect some of our most vulnerable consumers from being taken advantage of, at a time when they need the most help.”

Tracy MacCharles

Minister of Consumer Services

“Ontarians work hard for their money. Why just give it away to a company that is going to take your upfront fee but not actually settle with your creditors? I’m pleased the Ontario government is strengthening protections for consumers looking for help from debt settlement companies.”